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(b) Record the last transaction (Dec. 20) assuming the price to reacquire the shares was $15 per share. This is the first time Indigo had repurchased its own shares. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Round the average per share to three decimal places, e.g. 5.271 and final answers to O decimal places, e.g. 5,271. List all debit entries before credit entries.) Date Dec. 20, 2024 Account Titles Debit Credit

(b) Record the last transaction (Dec. 20) assuming the price to reacquire the shares was $15 per share. This is the first time Indigo had repurchased its own shares. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Round the average per share to three decimal places, e.g. 5.271 and final answers to O decimal places, e.g. 5,271. List all debit entries before credit entries.) Date Dec. 20, 2024 Account Titles Debit Credit

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Hello i need help on this question as im having trouble with the last part of A and Part B. THERE IS NO TRESUARY STOCK IN THIS QUESTION do not answer with that 

 

On January 1, 2024, Indigo Enterprises Inc. had 80,000 common shares, recorded at $640,000. The company follows IFRS. During the year, the following transactions occurred: Apr. 1 June 15 Sept. 21 Nov. 1 Dec. 20 2024 Apr. 1 June 15 Show Transcribed Text Sept. 21 Issued 6,000 common shares at $10 per share. Declared a 5% stock dividend to shareholders of record on September 5, distributable on September 20. The shares were trading for $12 a share on June 15. Nov. 1 Announced a 1-for-2 reverse stock split. Shares were trading at $10 per share at the time. Dec. 20 Issued 3,000 common shares at $22 per share. Sept. 20 v Repurchased 10,000 common shares for $20 per share. This was the first time Indigo had repurchased its own shares. Cash Common Shares Stock Dividends Stock Dividends Distributable Stock Dividends Distributable Common Shares No Entry No Entry Cash Common Shares Common Shares Retained Earnings Cashi S Ć 60.000 51.600 51,600 0 66.000 91,860 108,140 60 51 51 66 200
Transcribed Image Text:On January 1, 2024, Indigo Enterprises Inc. had 80,000 common shares, recorded at $640,000. The company follows IFRS. During the year, the following transactions occurred: Apr. 1 June 15 Sept. 21 Nov. 1 Dec. 20 2024 Apr. 1 June 15 Show Transcribed Text Sept. 21 Issued 6,000 common shares at $10 per share. Declared a 5% stock dividend to shareholders of record on September 5, distributable on September 20. The shares were trading for $12 a share on June 15. Nov. 1 Announced a 1-for-2 reverse stock split. Shares were trading at $10 per share at the time. Dec. 20 Issued 3,000 common shares at $22 per share. Sept. 20 v Repurchased 10,000 common shares for $20 per share. This was the first time Indigo had repurchased its own shares. Cash Common Shares Stock Dividends Stock Dividends Distributable Stock Dividends Distributable Common Shares No Entry No Entry Cash Common Shares Common Shares Retained Earnings Cashi S Ć 60.000 51.600 51,600 0 66.000 91,860 108,140 60 51 51 66 200
(b) Record the last transaction (Dec. 20) assuming the price to reacquire the shares was $15 per share. This is the first time Indigo had repurchased its own shares. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Round the average per share to three decimal places, e.g. 5.271 and final answers to O decimal places, e.g. 5,271. List all debit entries before credit entries.) Date Dec. 20, 2024 Account Titles Debit Credit
Transcribed Image Text:(b) Record the last transaction (Dec. 20) assuming the price to reacquire the shares was $15 per share. This is the first time Indigo had repurchased its own shares. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Round the average per share to three decimal places, e.g. 5.271 and final answers to O decimal places, e.g. 5,271. List all debit entries before credit entries.) Date Dec. 20, 2024 Account Titles Debit Credit
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